466
Hong Kong Annual Administration Reports, 1841-1941
*
76
the University of Hong Kong (7/3). Peace Celebrations Executive Committee decided on erection of Cenotaph on site in front of Hong Kong Club (16/3); decision confirmed at meeting of General Peace Celebrations Committee (21/3). Strike of Chinese engineers and fitters employed in Hong Kong dockyards (3/4); strike of fitters of Hong Kong Tramway Company (10/4); settlement reached (20/4). First meeting of newly-appointed Board of Education (14/4). Arrival in Hong Kong of H.R.H. the Crown Prince of Roumania (10/6). Government announced its decision to contribute $1,000,000 to the Endowment Fund of the University of Hong Kong, and to meet the existing indebtedness of the University, amounting to $570,000, in accordance with the recommendations of the Hong Kong University Commission (13/9). Arrival of new Bishop of Victoria, Dr. DUPPUY, in succession to Dr. LANDER, retired (3/11). Sir MAURICE FITZMAURICE arrived to inspect and report on the development of Hong Kong Harbour (13/11). Public Meeting in City Hall approved of the erection, as a War Memorial, of a Club for the joint use of the Services and civilians, to be run under Y.M.C.A. management (2/12). Arrival of Major-General Sir GEORGE M. KIRKPATRICK, new G.O.C China, (29/12).
Trade & Industries.-Exchange opened at 4/11 and rose to 5/8 on 2nd March, when it began to fall rapidly until it touched 3/6 on 10th June, rising to 4/4 on 15th September, and declining to 3/01 on 20th December. The rate on 31st December was 3/2. The Yarn market was dull; demand was very slack owing, to a great extent, to the civil war in South China. Prices fell rapidly in April following on a heavy slump in Japan where there were large accumulations brought about by the holding back of Yarn by speculators. This collapse demoralized the markets in China and India. In piece goods Manchester prices steadily advanced, but later in the year, owing to an absence of demand, prices declined